EPAM Systems, Inc.
EPAM 6Price and target zones价格与目标区间
What the company does公司做什么
EPAM is a software-engineering firm. Companies hire it to design and build custom software from start to finish. Its engineers were historically concentrated in Eastern Europe; today the largest group is in India, followed by Ukraine and Poland. Its biggest customer industries are financial services (about 24% of revenue) and consumer and retail (about 20%).EPAM 是一家软件工程公司。企业雇它从头到尾设计和搭建定制软件。它的工程师过去主要集中在东欧；如今最大的一批人在印度，其次是乌克兰和波兰。它最大的客户行业是金融服务（约占收入的 24%）和消费与零售（约 20%）。
Earns from营收来源 software-engineering projects, billed largely by the hour.软件工程项目，主要按小时计费。
Read the full description查看完整介绍
EPAM Systems, Inc. provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; cloud services for creating a roadmap to set and refine IT and business goals while identifying new and emerging opportunities leveraging cloud technologies; data, analytics and artificial intelligence; customer experience; marketing; and cybersecurity. It also offers operation solutions comprising integrated engineering practices and smart automation services. In addition, the company offers software product and platform development services, which comprise product research, customer experience design and prototyping, program management, component design and integration, full lifecycle software testing, product deployment and end-user customization, performance tuning, product support and maintenance, managed services, as well as cross-platform migration and modernizing legacy platforms. The company serves the financial services; consumer goods, retail and travel; software and Hi-tech; business information and media, life sciences and healthcare; and emerging verticals industries EPAM Systems, Inc. was founded in 1993 and is headquartered in Newtown, Pennsylvania.
Company facts公司资料
- Founded成立时间
- 1993
- Headquarters总部
- Newtown, Pennsylvania
- Employees员工人数
- 62,750
- Industry行业
- Information Technology Services
- Country国家
- United States
Investment thesis投资逻辑 from the watchlist来自关注列表
📋 +19% in 14 days. ~7.1x fwd, net cash $1.27B, buying back ~10% of float — but no-moat (Morningstar) + stalled organic growth (2.5-5% cc). FV $100-150. HOLD the stub; do NOT add as a fresh position — correlated with ACN/CTSH/IBM. Break: GM <27%, organic cc flat/neg 2Q, or FCF <$450M. A2026-07-14
📋 14 天内 +19%。 前瞻市盈率约 7.1x,净现金 $1.27B,正回购约 10% 的流通股 — 但无护城河(Morningstar)+ 有机增长停滞(按固定汇率 2.5-5%)。合理价值 $100-150。持有现有小仓位;不要作为全新仓位加仓 — 与 ACN/CTSH/IBM 相关。
Historical results历史业绩 past fiscal years — these values do not change过去财年——这些数值不会变动
Profit margins利润率 the share of revenue that stays as profit营收中留存为利润的比例
of every $1 of revenue每 $1 营收中的占比
- Return on equity净资产收益率
- 11%
- Revenue growth营收增长
- +8%
Competitors竞争对手
Why customers stay客户为什么留下
A deep pool of engineering talent and a record of delivering on time. But it is a people-and-process strength, not a product moat. Growth has stalled — organic growth was about 5% in FY2025, much of the headline growth came from acquisitions — and EPAM's own filing flags AI as a demand risk, since the same AI tools it sells can shrink its billable coding work. Its concentration of staff in Ukraine and Belarus is a second structural risk.深厚的工程人才储备和按时交付的记录。但这是一种靠人和流程的优势，不是产品护城河。增长已经停滞——2025财年的有机增长约为 5%，表面上的大部分增长来自收购——而且 EPAM 自己的申报文件把 AI 列为需求风险，因为它出售的那套 AI 工具同样会缩减它可计费的编码工作量。它把员工集中在乌克兰和白俄罗斯是第二个结构性风险。
Related companies相关公司 🔴 AI-services repricing
One bet: does AI destroy labor-arbitrage IT services? They rise and fall together — proven twice now (−40% together, then +17-22% together).
Manage as one position. Do not add a second name to raise exposure.
Recent news近期新闻 last 7 days近7天
- Epam (EPAM) Earnings Expected to Grow: What to Know Ahead of Next Week's ReleaseZacks
- EPAM Systems (EPAM) Is Up 12.5% After Joining OpenAI Partner Network With Major AI Certification PushSimply Wall St.
- EPAM Systems (EPAM) Joins OpenAI Network Following AI Push But Is The Valuation CompellingSimply Wall St.
- EPAM (EPAM) Stock Still Looks Undervalued Despite Weak Earnings ExpectationsSimply Wall St.
- Here’s What Weighed on EPAM Systems’ (EPAM) PerformanceInsider Monkey